Coal spot prices down 2%

Energy, IT-Today: Thermal coal spot prices in Newcastle Port, Australia, a benchmark for Asian market, declined slightly by 2% to US$68.7 per ton for the week ended June 26 to tracking the crude oil.

NEWCIndex tracked by globalCOAL rallied to US$76.75 per ton in the week ended June 12 before retreated to US$70.8 per ton last week. Last week, South Korean utilities agreed 2009 thermal coal contracts with three Chinese producers at about US$78.5 per ton, down more than 45% from last year, but significantly higher than the utilities' demand of around US$60s.

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